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At its meeting on October 13, 2015, the AcSOC discussed the IASB's expectation that its new insurance contracts standard will be issued towards the end of 2016 and its indication that it is considering an effective date of January 1, 2020 or 2021.

At its meeting on October 13, 2015, the AcSOC discussed the IASB's expectation that its new insurance contracts standard will be issued towards the end of 2016 and its indication that it is considering an effective date of January 1, 2020 or 2021.

At its meeting on October 20, 2015, members of the AcSOC suggested that the plan should discuss PSAB’s expectations regarding convergence with IPSASs (possibly over more than a three-year period). The implications of PSAB’s credibility on the international scene by not converging with IPSASs should be considered. Members also suggested that in order to provide stakeholders with more time to comment on the draft proposals for the next strategic plan, PSAB should consider extending the expiration date for the current PSAB Strategic Plan (March 31, 2016) for a reasonable period.

At its meeting on October 20, 2015, members of the AcSOC suggested that the plan should discuss PSAB’s expectations regarding convergence with IPSASs (possibly over more than a three-year period). The implications of PSAB’s credibility on the international scene by not converging with IPSASs should be considered. Members also suggested that in order to provide stakeholders with more time to comment on the draft proposals for the next strategic plan, PSAB should consider extending the expiration date for the current PSAB Strategic Plan (March 31, 2016) for a reasonable period.